Location: Houma-Bayou Cane-Thibodaux, LA | Metro: Houma-Bayou Cane-Thibodaux, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The potential pitfalls for a Section 8 landlord in ZIP code 70344 begin with tenant turnover. The market rent of $825 is below the Fair Market Rent (FMR) of $890 for fiscal year 2024, which suggests that tenants might be more inclined to move when they find higher-paying jobs or better housing options. This could lead to increased vacancy rates and the associated financial strain.
Vacancy exposure is another critical concern. With a Days on Market (DOM) figure that is not available, it's difficult to gauge how quickly properties can be filled. In ZIP 70344, where the typical home value is $111,180 and the median income is $51,771, landlords must be prepared for prolonged periods of vacancy that could stretch their finances thin.
Deferred maintenance is a significant risk factor. Given the relatively modest home values and median incomes, landlords might struggle to keep up with necessary repairs and renovations without adequate cash flow. This can lead to a decline in property quality and potentially attract less desirable tenants, further exacerbating the problem.
However, these risks are offset by the high concentration of renters in the area. With 17.9% of residents being renters, there is a strong likelihood of robust demand for rental properties, particularly those that accept Section 8 vouchers. High renter density often translates into a steady stream of qualified applicants, which can help mitigate some of the aforementioned concerns.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.